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Caleres Inc. (CAL) Gains As Market Dips: What You Should Know

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In the latest trading session, Caleres Inc. (CAL - Free Report) closed at $21.71, marking a +0.05% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.72%. Elsewhere, the Dow lost 0.68%, while the tech-heavy Nasdaq lost 0.66%.

Coming into today, shares of the footwear wholesaler and retailer had lost 2.3% in the past month. In that same time, the Consumer Discretionary sector lost 4.69%, while the S&P 500 lost 5.92%.

Wall Street will be looking for positivity from Caleres Inc. as it approaches its next earnings report date. The company is expected to report EPS of $0.67, up 2133.33% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $677.95 million, up 18.74% from the year-ago period.

It is also important to note the recent changes to analyst estimates for Caleres Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Caleres Inc. currently has a Zacks Rank of #2 (Buy).

In terms of valuation, Caleres Inc. is currently trading at a Forward P/E ratio of 5.41. Its industry sports an average Forward P/E of 15.53, so we one might conclude that Caleres Inc. is trading at a discount comparatively.

The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 25% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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